There are over 127 million active GSM subscribers in Nigeria and the ARPU averaging N936 according to the latest report of the Nigerian Communications Commission (NCC). Over 25 per cent of these subscribers can spend as much as US$10 monthly to view Nollywood movies on their smart phones and tablets and that will be over US$250 million monthly and US$3 billion annually in Nigeria alone. And there are more than twice more viewers of Nollywood movies in other countries in Africa and the Diaspora where there are over 100 million potential viewers of Nollywood movies. Therefore, we can estimate that Nollywood movies can generate over US$7 billion annually.
How can this be done?
The following well researched facts and figures by proven sources on global mobile market trends are enough for any serious producer and distributor to calculate and estimate the worth of Nollywood movies online in the global village.
63%: Tablet users watch video according to patterns similar to those of traditional TV audiences. For example, tablet video viewers tend to spend most of their time on longer videos. Tablet owners spent 63% of their time on video sessions over 10 minutes in length. Read more: http://www.businessinsider.com/data-on-the-huge-mobile-video-market-2013-8#ixzz3CuEK6bPO
When you optimize digital revenue strategies for each viewer, device and location, you deliver more relevant content to connected viewers, who, in turn, watch more media. The result is greater monetization — more ads served, more transactions, and ultimately more money for video publishers.
From TV to Total Video
As more and more content flows across screens, a new approach to video measurement is required to help businesses plan, measure and purchase media with a total view of this new platform-agnostic world. comScore Total Video™ is driven by 5 core principles to bridge the gap between linear TV and digital, enable integrated video planning and ease the transition from Up fronts to All fronts.
15 Facts You Must Know About Online Videos
- 89 million people in the United States are going to watch 1.2 billion online videos today. (ComScore)
- Online video users are expected to double to 1.5 billion in 2016. (Cisco)
- Only about 24 percent of national brands are using online video to market to consumers. (Kantar Media)
- Online video now accounts for 50 percent of all mobile traffic and up to 69 percent of traffic on certain networks. (Bytemobile Mobile Analytics Report)
- Consumers give up on an online video if it doesn’t load in two seconds. (University of Massachusetts Amherst and Akamai Technologies)
- Users sharing video on retail and brand sites chose Facebook 46 percent of the time, with email accounting for 40 percent and Twitter capturing 14 percent of shares. (Invodo)
- Globally, online video traffic will be 55 percent of all consumer Internet traffic in 2016. (Cisco)
- 52 percent of consumers say that watching product videos makes them more confident in online purchase decisions. (Invodo)
- Mobile and tablet shoppers are three times as likely to view a video as laptop or desktop users. (NPD)
- Mobile video ads that include social media buttons drive 36 percent higher engagement. (Rhythm NewMedia).
- Online video production will account for more than one-third of all online advertising spending within the next five years. (Borrell Associates)
- 76 percent of marketers plan to add video to their sites, making it a higher priority than Facebook, Twitter and blog integration. (Social Media Examiner)
- 92 percent of mobile video viewers share videos with others. (Invodo)
- More than 1 billion unique users visit YouTube each month, spending more than 4 billion hours watching videos (YouTube).
- 2 billion video views per week are monetized on YouTube, and every auto-shared tweet results in six new YouTube browsing sessions (ReelSEO).
GLOBAL VIDEO INDEX Q1 2014 MOBILE AND TABLET VIEWING SEE HIGHEST OTT GROWTH RATE
The great migration to portable devices continues, as people take their video to go more frequently — on their commute to work, on vacations and from room to room. While the big screen in the living room maintains its dominance as the screen of choice for most viewers, today smaller screens are seeing the biggest increases in video traffic http://go.ooyala.com/rs/OOYALA/images/Ooyala-Global-Video-Index-Q1-2014.pdf
Any Nigerian mobile video service that is not making over US$1 billion annually is not using all the available marketing opportunities that will increase the mileage and patronage. And I have provided all the required data in this article and also in my special publications on Nollywood.
~ By Ekenyerengozi Michael Chima, Publisher/Editor of NOLLYWOOD MIRROR® SERIES and Nollywood Digital. – See more at: http://www.nigeriansreport.com/2014/09/nollywood-mobile-video-market-is-worth.html#sthash.YkbCfCXw.d…